HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0234%/8h= −25.7% APRnext payment −$0.29 per $10,000 · paid last 24h −0.069%

Price spread now: Popdex against GMX−0.005%7-day average −0.010% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on GMX Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.195%−$20 on $10k

Price spread, last 4 days (all we have)−0.129%−$13 · spread now −0.005%, 7d avg −0.010%

Together, before fees−0.325%−$32 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.010%, so right now this pair is about funding alone: −$7 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX HYPE/USD [WBTC.b-USDC]	93.109	L +0.0330% / S −0.0156%	pay 0.0041% / 1h	13m 15s	$1.4M	—	100x
Short	Popdex HYPEUSDT	93.104	0.0096	get 0.0012% / 1h	13m 15s	$70K	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against GMX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee GMXbpFee PopdexbpOrdersPrice spread, now −0.005%Rate

Funding earned: −$49.24
Price spread: −0.005% → −0.010%: $0.48
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$67.15
Costs to cover: 0.184%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Popdex: live order book, 1 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy GMX no order-book sample	—	—	—	—	—
Sell Popdex live order book, 1 min ago	0.05 bp	3.6 bp −$4	4.8 bp −$48	35.9 bp −$3,586	doesn't fit

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

HYPE on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hibachi HYPE/USDT-P	−0.1016%	1h	93.092	−0.018%	$197K	$227K	7x	as long as short
Arcus HYPE-USD	−0.0899%	1h	93.002	−0.114%	$1.2M	$3.8M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0139%	1h	93.060	−0.052%	$699K	$1.0M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.096	−0.013%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0056%	1h	93.122	+0.014%	$85K	$345K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0049%	4h	93.079	−0.032%	$155K	$654K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0044%	1h	93.279	+0.183%	$22K	$21K	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.163	+0.058%	$128K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.124	+0.017%	$23K	$319K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.107	−0.002%	$62K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex HYPEUSDT	+0.0013%	8h	93.115	+0.007%	$12.6M	$2.7M	50x	as long as short
Aster HYPEUSDT	+0.0018%	4h	93.082	−0.029%	$8.8M	$35.9M	300x	as long as short
Bullet HYPE-USD	+0.0018%	1h	93.087	−0.023%	$111K	$579K	20x	as long as short
Phoenix HYPE	+0.0026%	1h	93.156	+0.051%	$212K	$1.2M	10x	as long as short
BingX HYPE-USDT	+0.0034%	4h	93.097	−0.012%	—	$52.9M	—	as long as short
Gate HYPE_USDT	+0.0042%	4h	93.091	−0.019%	$44.5M	$55.5M	75x	as long as short
Bybit HYPEUSDT	+0.0045%	8h	93.060	−0.052%	$320.2M	$277.1M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0075%	8h	93.049	−0.064%	$113.5M	$299.4M	50x	as long as short
Derive HYPE-PERP	+0.0092%	1h	93.060	−0.052%	$16.1M	$7.5M	10x	as long as short
Lighter HYPE	+0.0096%	1h	93.093	−0.017%	$16.2M	$62.1M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.083	−0.027%	$3.1M	$11.7M	20x	as long as short
Popdex HYPEUSDTshort	+0.0096%	1h	93.104	−0.005%	$70K	$1.2M	50x
Paradex HYPE-USD-PERP	+0.0097%	8h	93.149	+0.043%	$339K	$162K	20x	as long as short
Binance HYPEUSDT	+0.0099%	4h	93.075	−0.036%	$376.3M	$880.4M	75x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.130	+0.023%	$24K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.112	+0.003%	$5.8M	$43.0M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.162	+0.057%	$2.03B	$657.3M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.135	+0.029%	$10.0M	$14.8M	20x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.067	−0.045%	$89.4M	$81.2M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.076	−0.035%	$45.8M	$18.2M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.042	−0.071%	$225.0M	$96.4M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.049	−0.064%	$7.3M	$10.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.377	+0.288%	$31.1M	$53.8M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.364	+0.274%	$7.5M	$45.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.292	+0.197%	$339K	$998K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.148	+0.042%	$665K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.147	+0.041%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.138	+0.032%	$481K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.055	−0.058%	$79K	$167K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.121	+0.013%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.081	−0.030%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.155	+0.050%	$203K	$10K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.057	−0.056%	$18.3M	$42.9M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.043	−0.071%	$396K	$162K	20x	as long as short
edgeX HYPEUSDC	+0.0117%	4h	93.295	+0.201%	$5.0M	$29.1M	30x	as long as short
HTX HYPE-USDT	+0.0141%	4h	93.245	+0.147%	$1.4M	$6.0M	75x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.150	+0.045%	$4.8M	$5.5M	50x	as long as short
Reya HYPERUSDPERP	+0.0259%	1h	93.096	−0.013%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0269%	8h	93.157	+0.052%	$1.9M	$5.2M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]long	L +0.0330% / S −0.0156%	1h	93.109	long leg	$1.4M	—	100x
BloFin HYPE-USDT	+0.0339%	4h	93.088	−0.022%	$17.0M	$11.5M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0448%	1h	93.180	+0.077%	$7.4M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0510%	1h	93.205	+0.104%	$3.2M	$6.3M	20x	as long as short
Injective HYPE/USDC PERP	+0.0519%	1h	93.730	+0.667%	$30K	$339K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0687%	1h	93.132	+0.025%	$20.7M	$29.8M	50x	as long as short